how to get esic registration for a new company
Complete Guide to ESIC Registration for a New Company in India
Introduction:
The Employee State Insurance Corporation (ESIC) is an autonomous body created by the Indian government to provide social security and health insurance benefits to employees. Registering for ESIC is mandatory for companies with more than ten employees and is beneficial for both employers and employees. In this comprehensive guide, we will explore the step-by-step process of obtaining ESIC registration for a new company in India.
Step 1: Determine Applicability:
ESIC registration is applicable to companies with ten or more employees, earning wages up to Rs. 21,000 per month. Businesses falling under the designated areas covered by ESIC need to apply for registration.
Step 2: Obtain Employer’s Identification Number (EIN):
Before applying for ESIC registration, a company must have an Employer’s Identification Number (EIN) provided by the Employees’ Provident Fund Organization (EPFO). If you do not have an EIN, you can apply for it online through the EPFO portal.
Step 3: Gather Required Documents:
To initiate the ESIC registration process, ensure you have the following documents on hand:
1. Company Registration Certificate: A copy of your company’s registration certificate issued by the Registrar of Companies (RoC).
2. Registration of Employees: Detailed records of employees along with their employment agreements.
3. PAN Card: A copy of the Permanent Account Number (PAN) card of the business.
4. Address Proof: Provide any valid documents as proof of address, such as utility bills or rent agreement.
5. Bank Account Details: Furnish a canceled cheque or a bank statement copy.
Step 4: Online ESIC Registration:
Follow these step-by-step instructions to complete the online ESIC registration process:
1. Visit the ESIC official website and go to the Employer’s Corner section.
2. Click on the Sign-upbutton to create a new account.
3. Fill in the required information and create a username and password.
4. Log in to your account and select the Add New IPoption to add your employees.
5. Fill in all relevant details, such as employee names, addresses, and contact information.
6. Upload the required documents as mentioned in Step 3.
7. Review the entered information and submit the application.
Step 5: Document Verification:
Once the online application is submitted, the ESIC authorities will scrutinize the submitted documents. If any discrepancies or missing information are found, you will be notified to submit the necessary clarifications or additional documents.
Step 6: ESIC Code Allotment:
Upon successful verification of documents, ESIC will allot a unique 17-digit code to your company. This code serves as a reference for all future ESIC-related transactions and correspondence.
Step 7: Payment of Contributions:
After receiving your ESIC code, you are required to start contributing towards the ESIC scheme. The contributions include both the employer’s and employee’s contributions, which are a percentage of the employee’s salary. The employer is responsible for deducting the employee’s share from their salary and depositing both contributions to the ESIC fund.
Step 8: Record Maintenance and Compliance:
After securing ESIC registration, it is crucial to maintain proper records of employee attendance, salary details, and contributions made to ESIC. Regular audits and inspections may be conducted by the ESIC authorities, so maintaining accurate records ensures compliance.
Conclusion:
ESIC registration is a vital step for companies to provide health insurance benefits and social security to their employees in India. By following the outlined steps and fulfilling the necessary requirements, businesses can successfully register with ESIC. Remember, adherence to the ESIC regulations and maintaining proper records is crucial to avoid any penalties or legal issues. Emphasizing employee welfare and protection not only benefits the workforce but also contributes to the growth and success of the organization.,
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how to get esic registration for a new company
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